Keeley Teton Advisors LLC trimmed its holdings in James River Group Holdings, Ltd. (NASDAQ:JRVR – Get Rating) by 1.6% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 197,551 shares of the insurance provider's stock after selling 3,191 shares during the period. Keeley Teton Advisors LLC owned 0.53% of James River Group worth $4,887,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Teacher Retirement System of Texas raised its holdings in shares of James River Group by 26.0% in the fourth quarter. Teacher Retirement System of Texas now owns 7,370 shares of the insurance provider's stock valued at $212,000 after buying an additional 1,521 shares during the last quarter. Blueshift Asset Management LLC purchased a new stake in shares of James River Group in the first quarter valued at about $207,000. Ergoteles LLC purchased a new position in James River Group during the first quarter worth about $214,000. ProShare Advisors LLC raised its holdings in James River Group by 62.2% during the fourth quarter. ProShare Advisors LLC now owns 9,169 shares of the insurance provider's stock worth $265,000 after purchasing an additional 3,515 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in James River Group during the first quarter worth about $267,000. 99.58% of the stock is owned by hedge funds and other institutional investors.
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Analyst Ratings Changes
Several research firms recently issued reports on JRVR. Barclays increased their price target on shares of James River Group from $24.00 to $25.00 and gave the stock a "maintains" rating in a report on Thursday, August 4th. StockNews.com cut shares of James River Group from a "hold" rating to a "sell" rating in a report on Saturday. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $31.40.
James River Group Trading Down 0.7 %
Shares of JRVR opened at $24.52 on Wednesday. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.37. The firm's 50-day moving average is $23.86 and its two-hundred day moving average is $23.82. James River Group Holdings, Ltd. has a twelve month low of $19.76 and a twelve month high of $39.60. The firm has a market capitalization of $918.27 million, a P/E ratio of -12.02 and a beta of 0.34.
James River Group (NASDAQ:JRVR – Get Rating) last issued its earnings results on Monday, August 1st. The insurance provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.03. James River Group had a negative net margin of 9.55% and a negative return on equity of 8.56%. The company had revenue of $184.81 million for the quarter, compared to analyst estimates of $200.07 million. During the same period in the prior year, the business posted $0.54 earnings per share. The firm's revenue for the quarter was down 3.5% compared to the same quarter last year. On average, research analysts predict that James River Group Holdings, Ltd. will post 1.95 earnings per share for the current fiscal year.
James River Group Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Monday, September 12th will be given a $0.05 dividend. The ex-dividend date of this dividend is Friday, September 9th. This represents a $0.20 annualized dividend and a dividend yield of 0.82%. James River Group's dividend payout ratio is presently -9.80%.
About James River Group
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James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance and reinsurance services in the United States. It operates through Excess and Surplus Lines, Specialty Admitted Insurance, and Casualty Reinsurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance on an excess and surplus commercial lines basis in all states and the District of Columbia.
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